China will cut taxes on importing completed cars and some car parts from 1 July, the finance ministry reportedly said on Thursday.
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The import tariff for complete sedans, cross-country vehicles and vans would be cut to 25% from 28% while the tax on body panels, chassis, engines and some other parts would be reduced to 10% from current 13.8% to 16.4%, it said, according to Reuters.
The ministry reportedly said on its web site that the reduction was in line with the country’s pledges upon joining the World Trade Organisation.
